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Interesting piece from @danneidle.bsky.social on whether Britain has "run out of other people to tax". Much is right: the UK taxes ordinary and low-paid workers lightly by global standards, and you can't fund a big state from the very wealthy alone. But it overclaims where it matters.

The core move is "almost no country funds a big state this way, so it can't be done". That shows difficulty, not impossibility – it's about the power of mobile capital, not a law of physics. And Switzerland, Norway and Spain run recurring wealth taxes today.

The biggest gap in the piece is about income flows, but what drives public anger is the stock of accumulated wealth and soaring asset prices. He brackets it out as "inequality, not revenue" – but for many of us that's the whole point. Taxing wealth isn't only about the revenue.